Market Update for Tuesday May 1st - 2012

Today we got the expect bounce in the market. Stochastic moved from oversold to overbought on the 60 min. One of the gaps on NYSE mentioned on the weekly report got closed today; however, there is one more gap above left. At the end of the day, the Stochastic indicators crossed lower, signaling a possible market retracement, as seen on the chart below.

However, the Stochastic on the 15 min chart is at oversold levels and it looks ready to cross higher (although it hasn't crossed yet). As seen on the chart below:

I had entered a position on TVIX right at the market close today, however, after seen the Stochastic on the 15 min chart, I sold half of my TVIX in after hours with a very small profit.
My gut feeling is the market will move higher at the open tomorrow and there will be a chance to buy TVIX or TZA at a lower price then. Regards, STN